Like it or not Canada will always be little brother to the USA. Just as New Zealand is to Australia, or Austria is to Germany.
kind of but there is a difference.
Canada is considerably bigger than New Zealand or Austria. It is actually more than twice the size of them combined. Canada is blessed with vast land, abundant natural resources including water. It also has a diversified economy with a strong financial, manufacturing and energy sector. It means its size allows it to have more room to act more independently, rather than heavily relying on a bigger neighbour. Canada has both coast with easy access to both West Europe and Asia-Pacific. Compared with relatively isolated Australia, Canada is in a more better position.
The mistake it has made is apparently, everything has been about US, US and US. Remember the 2008 crisis which has not ended yet? Although Canada has a much healthier economy and financial system, it was dragged down by the US, because when the Americans stop buying, Canadians can't sell! Factories need to be closed and people need to be laid off. This is ridiculous. The fact that Canada is exporting 100% of its oil/gas to the US is beyond my comprehension. Everyone knows diversification, why not Canada?? Australia is one of the strongest performers among rich countries because it is increasingly tighter link to faster growing East Asia, particularly China.
The nation should, and it is really time to, shift away from all these US-centric policies. The US is a declining power, at least relatively, and why does Canada need to tie its own fate with it? I am not saying we should cease trading with the US, fact is US will continue to be the most important trading partner, maybe for as long as these two countries exist, but start to diversify is the way to go. The world as one know it is less and less about the USA and it provides a good opportunity for us. Starting selling resources to China, India, where the demand grows double digits.
The world we live entered a new stage sometime around 2002. Energy and resources are becoming increasingly important, and their price will only go in only direction. If the Chinese and Indians each consume the same amount of resource as Canadians do, the world's oil and natural gas will be depleted within a few decades, but now it is only a fraction. This means potential, huge market for Canada to tap. The Harper government seems inclined to make the shift, and i am only surprised it hasn't happened 10 years earlier.
And it is not only about energy. Back to tourism, if you go to Paris, London, Rome, or even NYC, and take a look those expensive stores. They are full of the Asian new rich. They have the money and they want to show their wealth. Louis Vuitton's flagship store in Paris has to impose a quota for its customers to purchase its expensive bags. They are making more overseas travels with increasing purchasing power, something unimaginable 20 years ago. China is still poor in general, but even if only 5% of its population are wealthy, that's like the entire population of Canada. The South Koreans are already rich and they are adapting to a consumer society as well.
GM/Ford etc are morbidly sick in the past decade, but their sales grew exponentially in Asian, particularly Chinese market. If not for the Chinese market, these big companies couldn't survive, or least couldn't have grown. Literally hundreds of people line up entire night to buy Iphone/ipads so that the stores are worried about safety and had to postpone sales. Yet what is Canada selling to China? hardly anything we know of. It is sad. Such a waste of opportunity.
Don't want to digress too much. Some people say I am always too harsh/defeatist on Canada, actually I am quite optimistic because i see its untapped potential. As long as it keeps an open mind, which it hasn't, and promote business overseas actively without trying to sell its own ideologies/values, like the US does, I believe it will be in a very competitive position for the next few decades.
